Two months into the year 2018 and 4 important events are impacting the cryptocurrency market. Who are the ones involved and how do these events impact your investments?
Let`s be Crypto PayPals
The beginning of March had started with a big shout out from American digital payment giant PayPal. The company had field its patent with the USPTO (US Patent & Trademark Office) which enables cryptocurrency transactions in an immediate time duration. This important development takes form in the Expedited Virtual Currency Transaction application. The new technology allows buyers and sellers to perform a payment deal through exchange of encrypted keys. These keys are combined of letters and numbers that are aligned behind the scene of cryptocurrency assets. It`s no secret that PayPal is a big thumbs upper for the crypto market, as it initially began to collaborate with bitcoin`s payment platforms and processors. In addition to that, PayPal`s founder, Peter Thiel, is known to be a stand out crypto investor himself.
The Cambodian ICO Story
Upcoming ASEAN 2018 Blockchain Summit which takes place in Cambodia focuses on the announcement of opening a new virtual payment option, one that would be included as a legitimate economical channel in Cambodia. The platform discussed about is called Entapay, which is also designated to be used as a valid replacement for standard payment channels like Visa. After Venezuela`s ICO of the Petro token, there are political signs that relate to Cambodia`s intent to issue its own Entapay coins.
Chinese Politician Promotes Crypto Exchange
It was recently announced by the Chinese news desk Lie Yun Wang, that politician Wang Pengjie is promoting the idea of creating a national cryptocurrency trading platform. Speaking in favor of such endeavor, Pengjie has suggested the collaboration of 2 main Chinese institutions, to cooperatively establish a blockchain asset management system. The two main reasons for this surprising suggestion out of a Chinese official are:
*The Korean promotion of a cryptocurrency regulatory management system
*The Chinese internet provider giant, Tencent, currently stands at lesser market cap than crypto market leaders such as Ethereum, Bitcoin and Litecoin.
The Rise of Ripple
This third ranking cryptocurrency is showing a continuous growth stability, as this past week alone Ripple has risen by 17%. The entire market cap of leading cryptocurrency presents an overall 3% growth, while higher ranking coins, Bitcoin & Ethereum, have only gained an overall market cap of 2-2.5% growth.